Enbridge Energy Management LLC (NYSE:EEQ) was the target of a large drop in short interest in September. As of September 15th, there was short interest totalling 898,670 shares, a drop of 35.4% from the August 31st total of 1,390,714 shares. Based on an average daily volume of 265,843 shares, the days-to-cover ratio is currently 3.4 days. Approximately 1.2% of the company’s stock are sold short.

Several equities research analysts have recently issued reports on EEQ shares. Zacks Investment Research cut shares of Enbridge Energy Management from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada reissued a “hold” rating and issued a $21.00 target price on shares of Enbridge Energy Management in a report on Wednesday, September 27th. Morgan Stanley lowered Enbridge Energy Management from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $21.58 to $19.00 in a report on Thursday, June 15th. BidaskClub raised Enbridge Energy Management from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, ValuEngine cut Enbridge Energy Management from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $21.00.

A number of institutional investors and hedge funds have recently modified their holdings of EEQ. Quantbot Technologies LP acquired a new stake in Enbridge Energy Management during the 2nd quarter valued at approximately $113,000. Great West Life Assurance Co. Can raised its position in shares of Enbridge Energy Management by 2.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 8,936 shares of the oil and gas producer’s stock valued at $137,000 after purchasing an additional 171 shares in the last quarter. M&T Bank Corp raised its position in shares of Enbridge Energy Management by 1.9% in the 2nd quarter. M&T Bank Corp now owns 10,555 shares of the oil and gas producer’s stock valued at $163,000 after purchasing an additional 201 shares in the last quarter. Buckingham Asset Management LLC raised its position in shares of Enbridge Energy Management by 1.9% in the 2nd quarter. Buckingham Asset Management LLC now owns 10,621 shares of the oil and gas producer’s stock valued at $164,000 after purchasing an additional 203 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of Enbridge Energy Management by 87.8% in the 2nd quarter. D.A. Davidson & CO. now owns 12,326 shares of the oil and gas producer’s stock valued at $189,000 after purchasing an additional 5,761 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Shares of Enbridge Energy Management (EEQ) opened at 15.53 on Wednesday. The company’s 50-day moving average price is $14.47 and its 200 day moving average price is $15.69. The stock’s market cap is $1.33 billion. Enbridge Energy Management has a 1-year low of $13.42 and a 1-year high of $25.96.

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About Enbridge Energy Management

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